CapsLock Indicator is described as 'small utility that indicates the state of the Num lock, Caps lock and Scroll lock key'. There are more than 10 alternatives to CapsLock Indicator for Windows. The best alternative is TrayStatus, which is free. Other great apps like CapsLock Indicator are Keyboard LEDs (Free), KbLeds (Free), addLEDs (Free) and Keyboard Notifier (Free).
Keyboard Notifier sits in the system tray and notifies the user as to the state of the Caps, Scroll and Num lock keys. Designed for systems with ill-placed or non-existent hardware notification lights.
Some of the latest keyboard and notebook models no longer have indicators for the status of the Caps Lock, Num Lock and Scroll Lock keys, and some people prefer not to have to look away from their monitors even if their input devices are equipped with these indicators.